Straight-line amortization and annual interest payments

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Reference no: EM13776879

Oliver Company issued $800,000 of 6%, 5-year bonds at 98. Assuming straight-line amortization and annual interest payments, how much bond interest expense is recorded on the next interest date?

$48,000

$51,200

$24,000

$49,600

Reference no: EM13776879

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